Singapore's Cloud Alliance Pte Ltd - a platform solutions developer for the gaming industry - has secured US$5 million Series A funding from private investment firm Aetius Capital.
"Aetius Capital is always on the lookout for highly driven and resilient entrepreneurs who can execute as well as they can pitch to investors. Once we identify the entrepreneurs we want to work with, we will be able to sort out their funding needs quickly. For Cloud Alliance, the US$5 million round was completed in about two months," said Benjamin Cher, founder and CEO of Aetius Capital, and also a co-founder of Cloud Alliance.
"We knew that fund-raising would be challenging in the current market, but Aetius Capital was able to lead and close the round quickly with their extensive network," said Jonathon Sze, co-founder and Chief Operating Officer of Cloud Alliance.
Cloud Alliance recently sealed a deal with San Francisco-based Unity Technologies to be their integrated payment partner. In line, Cloud Alliance will develop a platform solution called CloudMoolah to serve over 5.5 million registered game developers on the platform of Unity, starting with Southeast Asia.
"It is a major win for Cloud Alliance to seal this global partnership with Unity," noted Cher. "Through our platform solution called CloudMoolah, we can enable Unity's game developers to significantly shorten their time to publish and monetise their games, starting in Southeast Asia where the games market is worth around US$3 billion a year growing at a compounded annual growth rate of 69 percent."
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